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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 686.10

-0.5%

4:00 PM EST

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To: Johnny Canuck who wrote (32549)	5/31/2001 12:52:32 PM
From: Return to Sender	Read Replies (1) of 70435

>Caution is advised on any Semi and semi equip trades. AMAT is now trading below the 50 and 100 and 200 day EMA's.< AMAT and numerous other semiconductors including the two I bought yesterday (KLIC and SMTX) are fundamentally overvalued as well. The trouble is that the market is looking further out than just the next quarter or two. I see AMAT is now showing green with a slight gain. These stocks should trade lower. I even hope they do because I have more money on the sidelines and I refuse to pay too much for these stock even though I know that ultimately they will move much higher. The battle here is between what the stocks are worth today and what they will be worth next year. It offers excellent trading opportunities. Both up and down. I think Suresh has been doing this fairly well. I have not got the guts to short anything after this many interest rate cuts. SMTC is looking good. finance.yahoo.com RtS

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